How do I create a budget?
Mark MacLeod avatar
Written by Mark MacLeod
Updated over a week ago

You can create a budget in the savings section. A budget is your financial plan for the month. To update your budget select ‘edit’. To automate your budget select ‘connect accounts’ to securely link transactions from your bank accounts.

Hey Coach uses ‘bucket budgeting’. It is a basic method to ensure you know what is left in your pocket each month. Our method has one bucket for income (money in), three buckets for expenses (money out) and a bucket for savings (what is left in your pocket).

Your three expense buckets are living expenses (things you need), lifestyle (things you want) and housing (rent or mortgage repayments to keep a roof over your head). Each month review your spending and allocate it into one of the buckets.

When you have connected bank accounts your transactions will automatically flow into the buckets. To move a transaction into another bucket go to the accounts section of Hey Coach.

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